Bank Statement and Stated income Programs.
Benefits:
· Lower interest rate then Private Money/Hard Money Mortgages
· Build equity faster
Higher LTV's then Hard Money
No prepayment Penalties
Scores starting at 500
No prepayment Penalties
Scores starting at 500
Can be done with recent BK or Shortsale or Foreclosure
· Rate is fixed upto 30 years with no prepaymenty penalties
Drawbacks:
· Higher monthly rate then a conventional mortgage
.